Annual Report 2008

NOTE 2 Project provision 4% of the turnover has been taken as a provision for any losses and deducted as part of project revenue.

NOTE 5 Pension obligations

NOTE 7 Security for the credit and loan Sparebanken Sør has security for the credit and the loan against the fixed assets and the accounts receivable. Work in progress carried out and costs incurred not invoiced at the year end, relate to Framework Agreement, UNEP and others, and amounted to a gross total of NoK 1 890 000,- plus last instal- ment of EarthPrint payment Nok 55 000,-. Deduction of provision for losses has been taken as revenue reduction in 2008, of 1,9 MNoK distributed over many projects. The pension premium to the contribution plan for the employees is NoK 993 581,- and the premium is charged to personnel costs. When changing the pension scheme, GRID-Arendal has an obliga- tion towards 3 employees to pay a pension payment equal to what they would have received under the old pension scheme from 62 to 67 years of age. GRID-Arendal has also an obligation related to a former employee to pay him an early retirement pension from 60 to 62 years of age until end of 2009. NOTE 6 Work in progress

NOTE 3 Machinery and equipment (NoK) Purchase value 01.01.08 Added this year Accumulated depreciation 31.12.08

5 306 961,- 169 414,- 5 237 187,- 239 188,- 156 302,- 2008 13 585 766,- 2 005 291,- 993 581,- 4 440 152,- 21 024 790,- 38

Book value 31.12.08 Depreciation this year:

NOTE 4 Salary costs (NoK) Salary and holiday pay Employers contribution Pension costs Other personal costs Total Average no of employees Salary to Managing Director Fee to Chairman of the Board Fee to other Board members

2007 17 615 287,- 2 565 805,- 4 230 868,- 2 580 368,- 26 992 328,- 43

713 403,- 29 000,- 76 000,-

NoK NoK NoK

NOTE 8 Long term investments (NoK) Shares subsidiaries Teaterplassen AS Owners share 60% Purchase cost 3 012 000,-

The company is obliged to have a pension scheme for all employ- ees to meet the law of obligatory pension scheme. The company has subscribed to such a pension scheme, which meets the re- quirements of this law. The audit fee for 2008 is split into: Audit as required by law NoK 37 000,-. Fee for other authorization services NoK 7 000,-. Other services provided by the auditor NoK 5 000,-.

Share of result 2008 (not ready)

Share of equity 31.12.08 (not ready)

Other shares Geodatasenteret AS The shares in Geodatasenteret AS are valued at purchase cost. NOTE 9 Petty cash and bank accounts NoK 783 180,- of the total cash at bank is restricted to meet the liability arising from withheld payroll taxes. No. of shares 1000 Purchase cost 100 000,- Market value 100 000,-

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